Fast Retailing : Results for September to November 2022 and Estimates for FY2023 (362KB)

January 12, 2023

Fast Retailing Results for

September to November 2022

and Estimates for FY2023

Takeshi Okazaki

Fast Retailing Co., Ltd.

Group Senior Executive Officer & CFO

１

Contents

Ⅰ ．Results Sep.-Nov. 2022 (1Q) Ⅱ．Estimates for Fiscal 2023 Ⅲ．Reference

P 3 ～ P21 P22 ～ P26 P27 ～ P29

Disclosure of Corporate Performance
Following the Group's adoption of International Financial Reporting Standards (IFRS) from the year ending August 31, 2014, all data in this document are
calculated using IFRS standards.
Business profit = Revenue - (Cost of sales + SG&A expenses)
Group Operations:
UNIQLO Japan:	UNIQLO Japan operations
UNIQLO International:	All UNIQLO operations outside of Japan
GU:	All GU operations inside and outside Japan
Global Brands:	Theory, PLST, Comptoir des Cotonniers, Princesse tam.tam
Consolidated results also include Fast Retailing Co., Ltd. performance and consolidated adjustments.
From the first quarter of fiscal 2023, performance from the Royalties Division, which used to be displayed under the UNIQLO Japan reportable segment, will be included
under Adjustments as companywide income/expenses.
A Note on Business Forecasts
When compiling business estimates, plans and target figures in this document, the figures that are not historical facts are forward looking statements based on
management's judgment in light of currently available information. These business forecasts, plans and target figures may vary materially from the actual business
results depending on the economic environment, our response to market demand and price competition, and changes in exchange rates.	２

Group: FY2023 1Q Results

Large rise in revenue, slight contraction in profit

unit : billion of yen

Yr to Aug. 2022	Yr to Aug. 2023
(3 mths to Nov. 2021)	(3 mths to Nov. 2022)	y/y
Actual	Actual

Revenue

(to revenue)

Gross profit

(to revenue)

SG&A

(to revenue)

Business profit

(to revenue)

Other income, expenses

(to revenue)

Operating profit

(to revenue)

Finance income, costs

(to revenue)

Profit before income taxes

(to revenue)

Profit attributable to owners of the parent

(to revenue)

627.3	716.3	+14.2%
100.0%	100.0%	-
338.6	380.2	+12.3%
54.0%	53.1%	-0.9p
222.4	265.0	+19.1%
35.5%	37.0%	+1.5p
116.1	115.2	-0.8%
18.5%	16.1%	-2.4p
3.2	1.8	-43.5%
0.5%	0.3%	-0.2p
119.4	117.0	-2.0%
19.0%	16.3%	-2.7p
14.8	9.7	-34.2%
2.4%	1.4%	-1.0p
134.2	126.8	-5.5%
21.4%	17.7%	-3.7p
93.5	85.0	-9.1%
14.9%	11.9%	-3.0p	３

Group: FY2023 1Q Main Points

・Revenue: ¥716.3bln (+14.2％ y/y), operating profit: ¥117.0bln（−2.0％ y/y).

Profit from UNIQLO Mainland China declined sharply on COVID-19restrictions.

UNIQLO Japan sales struggled, and profit dipped due to warm November weather, but sales picked up sharply in December and performance is recovering.

・Except for Greater China region and Japan, UNIQLO reported large revenue, profit gains in all markets. Record results for SE Asia, N. America, Europe (ex. Russia). ・GU reported large revenue and profit gains. Back on an expansive growth track.

・Decline in consolidated profit was small thanks to diversified earnings pillars. ・In a global inflationary environment, LifeWear sold well in all markets as high- quality everyday wear offered at affordable prices for a wide range of customers. Now in a position to further expand sales.

・1Q below target. Large revenue gains (double-digit same-storesales growth) for UNIQLO in all markets except Mainland China and for GU in December above plan.

・Expect to achieve consolidated forecasts for FY2023 first half and full year.	４

Group: FY2023 1Q Operating Profit

¥716.3bln

Revenue

¥627.3bln → ¥716.3bln (+¥89.0bln)

Group	+¥89.0bln
UQ Japan	+¥14.5bln
UQ Intl.	+¥58.1bln
GU	+¥9.5bln
Global Brands	+¥6.8bln

Average forex impact +8.5％ y/y

Group	＋8.5％
USD	＋28.7％
RMB	＋16.7％
EUR	＋9.3％
KRW	＋7.8％

＋14.2%

Gross profit margin 54.0％→ 53.1％（−0.9ｐ）

Group	−0.9ｐ
UQ Japan	−1.1ｐ
UQ Intl.	−1.2ｐ
GU	＋0.5ｐ

¥380.2bln ＋12.3%

SG&A ratio

35.5％→ 37.0％ (＋1.5ｐ）

Group	＋1.5ｐ
UQ Japan	＋0.8ｐ
UQ Intl.	＋2.8ｐ
GU	＋0.2ｐ

¥265.0bln ＋19.1%

Foreign exchange gain: ¥1.5bln

¥115.2bln		¥1.8bln	¥117.0bln
−0.8%		−2.0%
SG&A
	Other
	income/expenses

FY2023	FY2023	FY2023	FY2023
１Q	１Q	１Q	１Q	５
Revenue	Gross profit	Business profit	Operating profit